Coinbase Useless In Helping XRP Surge Again

The native token of Ripple, XRP has had many investors of the coin anticipating for just over a year now that it would soon be listed on the crypto exchange giant, Coinbase. Luckily, Coinbase recently announced that they were looking at support for the token but despite the bullish news, it didn’t cause a breakout in the price for the second biggest cryptocurrency. Even last year, the sheer rumour that Coinbase was going to be listing the token caused a slight bull run for XRP.

The Ripple price was successful is bringing any momentum following the announcement last week. The digital token failed to rally against the US dollar in the days after the news broke out and in addition to this it sunk down against Bitcoin. Over the past week, the price of the leading cryptocurrency is down by over 12 percent at the time of writing while XRP dropped by 15 percent with the majority of the drop coming over the past two days.

About 12 months ago this kind of performance was unheard of with XRP seeing several rallies based on just rumours that Coinbase would be getting ready to list the token on its exchange. Flash forward to today, and there is now proof that Ripple’s native token is getting ready to do just that but this news hasn’t made an impact on the second largest digital currency.

Coinbase announced the news with a bit of cloak and dagger since they didn’t outright say they would be supporting Ripple on its platforms and services and stressed that the XRP token, along with other cryptocurrencies are being ‘evaluated’ before they get listed on the exchange. With this in mind, there were four Ethereum tokens mentioned in the announcement and they have already been added to Coinbase Pro which is positive news that XRP could be getting supported soon.

Maybe a reason for the lack of reaction might be because the announcement was more to do with Coinbase than it was XRP, although the token was certainly the most interesting part of the reveal.

Along with the addition of four more ERC-20 tokens, Coinbase Pro has already listed more cryptocurrencies in this year than in all the previous ones together.

What are your thoughts? Let us know what you think down below in the comments!

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